What's New List Serve Post Display

We have posted the Administration’s Draft Concept Paper on
Cap-and-Trade Auction Proceeds at:
http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/workshops/concept_paper.pdf.
 

The purpose of this concept paper is to aid public discussion
regarding development of the first Administration investment plan
for Cap-and-Trade auction proceeds.  This concept paper discusses
the applicable requirements and preliminary priorities for
investing the auction proceeds in programs and projects that help
achieve greenhouse gas reduction goals.  
Further information on the investment of the State portion of the
auction proceeds, including the detailed notice for these
workshops is available at: 
http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/auctionproceeds.htm
 

La versión en español del aviso del taller esta disponible aquí:
http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/workshops/notice_1_31_spanish.pdf

ACCOMODATION:

If you require a special accommodation or need this document in
an alternate format (i.e. Braille, large print) or another
language, please contact Ms. Heather Jackson at (916) 322-8267 or
hbjackso@arb.ca.gov as soon as possible, but no later than 10
business days before the scheduled meeting.  TTY/TDD/Speech to
Speech users may dial 711 for the California Relay Service.

BACKGROUND:

Assembly Bill (AB) 32, the California Global Warming Solutions
Act of 2006, requires California to reduce statewide GHG
emissions to 1990 levels by 2020 and to maintain and continue
reductions beyond 2020.  As part of this effort, the Air
Resources Board (ARB) has developed a Cap-and-Trade program that
limits statewide emissions from sources responsible for 85
percent of greenhouse gases and creates a financial incentive for
clean and efficient technologies.  Under the program, a portion
of the allowances required for compliance are auctioned.  The
State portion of the proceeds from these auctions will be used to
fund projects to reduce greenhouse gas emissions, consistent with
State law.

In September 2012, the Legislature passed and Governor Brown
signed into law two bills – AB 1532 (Pérez, Chapter 807) and
Senate Bill (SB) 535 (De León, Chapter 830) – that together
establish a framework for developing an investment plan for
projects and programs to be funded with Cap-and-Trade auction
proceeds.  SB 535 further requires that 25 percent of the
proceeds that will be expended benefit disadvantaged communities
and at least 10 percent of the proceeds expended be invested in
projects located within those communities.

The Department of Finance (Finance), in consultation with the ARB
and other state entities, will develop and submit to the
Legislature a three-year investment plan for the auction
proceeds.  The investment plan will identify the State’s
greenhouse gas reduction goals and priority programs for
investment of proceeds to support achievement of those goals. 
Funding will be appropriated to State agencies by the Legislature
and Governor through the annual Budget Act, consistent with the
plan.